PANORAMA STUDIOS INTERNATIONAL Stock Forecast
PANORAMA STUDIOS INTERNATIONAL stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Jun 20, 2024)
The PANORAMA STUDIOS INTERNATIONAL stock price fell by -1.10% on the last day (Thursday, 20th Jun 2024) from ₹920.80 to ₹910.65. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.10% from a day low at ₹902.05 to a day high of ₹930.05. The price has fallen in 7 of the last 10 days and is down by -0.78% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 thousand shares and in total, 3 thousand shares were bought and sold for approximately ₹2.31 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect PANORAMA STUDIOS INTERNATIONAL stock with a 90% probability to be traded between ₹847.75 and ₹1,040.43 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PANORAMA.BO Signals & Forecast
There are mixed signals in the stock today. The PANORAMA STUDIOS INTERNATIONAL stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹916.57 and ₹917.06. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 4.08%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for PANORAMA STUDIOS INTERNATIONAL stock
PANORAMA STUDIOS INTERNATIONAL finds support from accumulated volume at ₹905.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹28.00 between high and low, or 3.10%. For the last week the stock has had daily average volatility of 4.89%.
Our recommended stop-loss: ₹870.31 (-4.43%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 39 days ago.)
Trading Expectations (PANORAMA.BO) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect PANORAMA STUDIOS INTERNATIONAL to open at ₹914.25, and during the day (based on 14 day Average True Range), to move between ₹866.66 and ₹954.64, which gives a possible trading interval of +/-₹43.99 (+/-4.83%) up or down from last closing price. If PANORAMA STUDIOS INTERNATIONAL takes out the full calculated possible swing range there will be an estimated 9.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹905.65 (0.55%) than the resistance at ₹1,029.55 (13.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is PANORAMA STUDIOS INTERNATIONAL stock A Buy?
PANORAMA STUDIOS INTERNATIONAL holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.662 Hold/Accumulate Downgraded
Predicted Opening Price for PANORAMA STUDIOS INTERNATIONAL of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| ₹914.25 ( 0.395%) | ₹910.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PANORAMA.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 942.25 | 3.47% |
| R2 | 931.55 | 2.30% |
| R1 | 924.95 | 1.57% |
| Price | 910.65 | |
| S1 | 903.55 | -0.779% |
| S2 | 896.95 | -1.50% |
| S3 | 886.25 | -2.68% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,075.50 | 18.10% |
| R2 | 1,046.45 | 14.91% |
| R1 | 1,029.55 | 13.06% |
| Price | 910.65 | |
| S1 | 905.65 | -0.549% |
| S2 | 905.50 | -0.566% |
| S3 | 874.95 | -3.92% |
FAQ
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